Dutch inflation rate marginally down

10/03/2011 15:00

The inflation rate in the Netherlands was 1.9 percent in February, i.e. 0.1 percentage points down on January. This is mainly due to the rates for telephone and internet services. Inflation is defined as the increase in the consumer price index (CPI) compared to the same month in the previous year.

Higher prices for housing, energy and water and higher transport costs each contributed 0.5 percentage points to inflation in February. Food, drinks and tobacco and the sector hotels and restaurants together contributed 0.4 percentage points. Spending abroad contributed 0.2 percentage points. Other goods and services hardly affected the inflation rate.

The harmonised consumer price index (HICP) allows comparison between the inflation rates in the member states of the European Union (EU). According to the HICP method, Dutch inflation was 2.0 percent in February, the same as in January. Eurostat, the European statistical office, calculated an inflation rate of 2.4 percent in the eurozone in February. The level of inflation in the eurozone is one of the main guidelines for the European Central Bank (ECB) to change or refrain from changing the interest rate. According to the ECB, prices in the eurozone are stable, if the inflation rate is close to 2 percent.

For more information on Dutch inflation, see Statistics Netherlands’ online video on YouTube.